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100 US CEO Have Greater Retirement Assets That 116 Million Americans

Tyler Durden's picture




 

With another year of QE almost in the history books, we were looking for some great examples of how wealth disparity in the US between the pinnacle of the "wealth pyramid", shown below and everyone else. 

We got it thanks to a study by the Center for Effective Government and Institute for Policy Studies called "A Tale of Two Retirements", which found that company-sponsored retirement assets of just 100 CEOs are equal to those of more than 40 percent of American families, roughly 50 million families or 116 million people.

Here are the findings which indicate a wealth divide so wide it could make Marie Antoinette blush:

  • The 100 largest CEO retirement funds are worth a combined $4.9 billion. That’s equal to the entire retirement account savings of 41 percent of American families - more than 50 million families and more than 116 million people.
  • On average, the CEOs’ nest eggs are worth more than $49.3 million, enough to generate a $277,686 monthly retirement check for the rest of their lives.
  • David Novak of YUM Brands had the largest retirement nest egg in the Fortune 500 in 2014, with $234 million, while hundreds of thousands of his Taco Bell, Pizza Hut, and KFC employees have no company retirement assets whatsoever. Novak transitioned from CEO to Executive Chairman in 2015.

The rich are not only richer, they are also legally allowed to pay far less taxes than most mere mortals: Fortune 500 CEOs have $3.2 billion in special tax-deferred compensation accounts that are exempt from the annual contribution limits imposed on ordinary 401(k)s.

  • Fortune 500 CEOs saved $78 million on their 2014 tax bills by putting $197 million more in these tax-deferred accounts than they could have if they were subject to the same rules as other workers. These special accounts grow tax-free until the executives retire and begin to withdraw the funds.
  • The Fortune 500 CEOs had more in their company-sponsored deferred compensation accounts than 53.8 percent of American families had in their deferred compensation accounts.
  • Glenn Renwick, CEO of The Progressive Corporation, transferred $26.2 million of his pay into his deferred compensation account last year, the most of any Fortune 500 CEO. That reduced his income tax bill by more than $10 million in 2014.

Remember that not only their year-end comp, but much of their retirement funds, are linked to stock performance thresholds, so the CEOs are explicitly motivated to boost their stock price. This means engaging in countless stock buybacks. However, when the debt spigot is put on hiatus and cash in must equal cash out, it means firing thousands workers. And if not firing, then merely reducing defined benefit plans should suffice.

  • Last year 18 percent of private sector workers were covered by a defined benefit pension, which guarantees monthly payments, down from 35 percent in the early 1990s. In contrast, 52 percent of Fortune 500 CEOs are covered by a company-sponsored pension.
  • Nearly half of all working age Americans have no access to any retirement plan at work. The median balance in a 401(k) plan at the end of 2013 was $18,433, enough to generate a monthly retirement check of $104.
  • Of workers aged 50-64, 29 percent have no defined benefit pension or retirement savings in a 401(k) or IRA. These workers will be wholly dependent on Social Security, which pays an average benefit of $1,223 per month.

It gets worse, and more tragic at the same time, because according to BlackRock, Americans and especially Millenials just have too much cash. No really, this is what Blackrock said:

While Americans said that they ideally should have 33% of their net worth in cash instruments, they admit to holding 65%–far too high an allocation to achieve their retirement goals, given low interest rates and the diminishing purchasing power of their cash related to the pressures of inflation. The current asset allocation of American portfolios according to the survey includes 65% in cash, 18% in equities, 6% in bonds, 4% in property, 2% in alternatives, 5% listed as “other.”

Well, perhaps Americans are simply not looking forward to buying what Wall Street and central banks have to sell just ahead of the ritual rug pulling that wipes out 50% of the market every few years. And then there is the question of just how much cash said Millennials have.

Here it the problem according to the Two Retirements report:

Younger Americans face a particularly difficult time saving for retirement. More than half of millennials have not yet begun to save for retirement, as they lack access to good jobs, and have staggering amounts of student loan debt. Americans under 40 today have saved 7 percent less for retirement than people in that age group were able to save in 1983.

So sorry Blackrock, but your feeble mind games will not work on us, even though we realize you would love for everyone to buy your flash-crashy ETFs. The reality is that Americans simply do not have any leftover funds, period, which to fund a retirement, be it invested in cash or BlackRock triple inverse ETFs.

CEOs, however, have nothing to worry about. Not only do they have Congress in their back pocket, they also get preferred treatment by the IRS.

On top of their massive annual compensation, CEOs of most large U.S. corporations have amassed gilded retirement fortunes. We analyzed SEC filings of publicly held Fortune 500 firms and found that the 100 largest CEO nest eggs were worth a combined $4.9 billion at the end of 2014. That sum is equal to the entire retirement account savings of 41 percent of American families (50 million families in total).

 

While the guaranteed monthly retirement check until death is a thing of the past for the vast majority of Americans, more than half of Fortune 500 CEOs receive company-sponsored pension plans. Their firms are allowed to deduct the cost of these often exorbitant plans from their taxes, even if they have cut worker pensions or never offered them at all.

 

Nearly three-quarters (73 percent) of Fortune 500 firms also have set up special tax-deferred compensation accounts for their executives. These are similar to the 401(k) plans that some Americans receive through their employers. But ordinary workers face strict limits on how much pre-tax income they can invest each year in these plans, while top executives do not. These privileged few are free to shelter unlimited amounts of compensation in these special pots, where their money can grow, tax-free, until they retire and start spending it.

 

The CEO-worker retirement divide turns our country’s already extreme income divide into an even wider economic chasm. New analysis by the Government Accountability Office shows that 29 percent of workers approaching retirement (aged 50-65) have neither a pension nor retirement savings in a 401(k) or Individual Retirement Account (IRA). According to a study by the Schwartz Center for Economic Policy Research at the New School, 55 percent of those aged 50-64 will be forced to rely almost solely on Social Security (which averages $1,233 a month).

And so on.

And because we know that readers are mostly interessted in names, here is a selection.

First, the 10 Largest CEO Retirement Funds

 

Second, the 10 Largest CEO Deferred Compensation Accounts.

A quick primer on these:

In 2014, 198 Fortune 500 CEOs invested a combined $197 million more of their pre-tax income in these plans than they would have been able to invest if they’d been subject to the maximum $24,000 cap that applies to ordinary workers. If they had been subject to this limit, they would’ve owed the U.S. Treasury $78 million more in income taxes last year.

 

The funds in these special tax-deferred accounts grow tax-free for the rest of the executives’ lives or until they are withdrawn. At that point, the executives make a one-time tax payment at an ordinary income rate. The Joint Committee on Taxation has produced a useful analysis of the financial benefits of tax deferral from the compounding of investment returns.

 

Executives can also choose where they live when they receive this compensation, including in a low-tax state. For example, CEOs who move after they retire from relatively high-tax New York to Florida, which has no state income tax, would pay substantially lower state taxes on this deferred compensation. These accounts can even be passed on to the executive’s heirs, allowing our country’s extreme wealth concentration to be passed on to future generations. These rules are contributing to the perpetuation of a new aristocracy.

And third, a quick look at the pension funding status at the corporations with the largest CEO retirement accounts:

 

Finally, here is the full breakdown of Fortune 500 CEOs' retirement assets.

 

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Thu, 10/29/2015 - 20:11 | 6728614 Shizzmoney
Shizzmoney's picture

Thanks, Ben and Janet. 

Thu, 10/29/2015 - 20:19 | 6728646 Richard Chesler
Richard Chesler's picture

What percentage of these fucking thieves are members of the tribe?

 

Thu, 10/29/2015 - 20:39 | 6728740 SILVERGEDDON
SILVERGEDDON's picture

They are members of the psychopathic tribe. There will never be enough. Not a fan of bill Gates and Paul Allen, but at least those guys are trying to contribute some of what they made towards the betterment of humanity.

Thu, 10/29/2015 - 20:50 | 6728779 LowerSlowerDela...
LowerSlowerDelaware_LSD's picture

Whaaa, whaa, whaaaaa...  Get a frick'n job.  If you believe that you require that kind of money start your own company, be CEO, and make a killing.  Jealous losers.  Stop voluntarily buying their products if you don't like their pay. 

Thu, 10/29/2015 - 20:52 | 6728792 PoasterToaster
PoasterToaster's picture

Low rent troll.

Thu, 10/29/2015 - 21:17 | 6728798 LowerSlowerDela...
LowerSlowerDelaware_LSD's picture

Lol.  An "intelligent" retort.  Low IQ troll.

ZH used to be mostly libertarian (who gives a shit what someone earns as long as it is not by force).  Now it's filled with envious Marxists who hate people who work for a living - as the down votes indicate.

Thu, 10/29/2015 - 21:26 | 6728919 TBT or not TBT
TBT or not TBT's picture

The 41% have poor impulse control, evidently.  Gods of the copybook headings might chime in here.   

Fri, 10/30/2015 - 00:23 | 6729435 FreedomGuy
FreedomGuy's picture

I am a libertarian, socially, politically and most important, economically. There is this idea that if you are a libertarian you cannot criticize anything except socialists. That is completely untrue. What matters is whether or not you propose a solution that uses government force. 

When it comes to CEO's, I despise most of them. I do not even like the "nice" ones. The vast majority are nothing special and they are only good at working their corporate systems. This is objectively proveable by looking at the turnover in the S&P every 50 years. Follow most any company for 50 years or more and see how they are doing. Most hit some peak, usually very early in their life and then go through long, slow, torturous descents. The last CEO is almost always a finance guy who carves up the company, merges it out of existance or turns off the lights.

What CEO's can do is essentially vote their own pay. They do what anyone else would do and run their pay up. Because of their sports star like ego's they take it personally when someone else gets paid more. They have no shame and their sense of proportion is distorted. They see the company as their personal property even though they know how to mouth all the proper "shareholder value" bullshit. Virtually none of them ever improve their products or services and even the dumbest of them know how to do layoffs. They actually hire consulting firms which tell them what to do. It things go badly, they can blame the consultants. If they go well, they can take credit which brings sports star like bonuses.

I think all CEO's of large companies should make millions and get paid well. However, they should get the same kind of performance reviews the rest of us get including getting canned. Generally, CEO's have great exit packages even if they get canned. They have enough to retire if they cared to or knew how to live modestly. If the CEO appears to succeed they get paid obscenely well. My favorites were McGuire at United Health, McKinnel at Pfizer and Lee Raymond of ExxonMobile. Does anyone remember Robert Nardelli of Home Depot? They hid McKinnel's package because he actually got paid full salary for life in retirement with use of all corporate jets, etc. McGuire initially had a severance of about $1.6bil. and Nardelli was a failure but I believe got about a $100mil.

If they were founders like Gates, Jobs, Ford, Hewlett and Packard, then they deserve all they get. After the founders the rest are glorified employees.

I do not want any socialist answers. I think the only balance to them are fund managers but fund managers are a diffused group just like the other stock holders. They only see things after the fact. I think in the future we will see very different company models that eliminate a lot of this but that is another post. Think of crowd sourcing as a hint.

So, GM goes from largest company in the world in the 50's and 60's to welfare queen by about 2011. How many CEO's lost their shirts along the way? Not one. How many workers? How many stockholders? How many suppliers? How many bond holders? How many Ivy League MBA's with all their Excel spreadsheets went through there over the years? Thousands upon thousands and yet none of them turned it around. Sears is the same. IBM is on the same path and a hundred others.

I am not sure what the answer is. I know what it is not. It is not government intervention. In fact, government is making the rules by which these guys hide those retirement contributions. They are in bed together. Low life politicians like to party with these guys. These guys/gals party with each other and vote on each others' pay because they all have incestuous board relationships. You vote my pay up? I vote your pay up.

There are good ones, no doubt and we generally do not know their names because they rarely make headlines. But given that most of these companies will fail or be well on the way to failure in a single lifetime, virtually none of them are superstars. They will lose to new companies we do not know, yet.

There is a libertarian criticism.

Sat, 10/31/2015 - 19:20 | 6734103 LowerSlowerDela...
LowerSlowerDelaware_LSD's picture

The libertarian answer is simple:

1: Get the government out of it so that complete free markets can function, raising the wealth of everyone.

2: Do not HATE anyone simply because they have a free market based salary.

3: If you do not like their free market based salary do not purchase their products, helping to pay their free market salary.

4: If you hate that, "Arrrgghhh!!! CEOs move jobs overseas...  Arrrgghhh!!!" stop them from doing so by insisting that you only buy products made in the U.S.A.  The free market works.  If consumers don't buy products made by  overseas slave labor, rather they insist on paying triple for the same product made in the USA, it will be made in the USA.

 

Fri, 10/30/2015 - 00:06 | 6729395 wisebastard
wisebastard's picture

oh yeah you really got to love the bill gates youtube videos of him talking about human depopulation and how vaccines can decrease the population by 10% but will have an increase of about 1.3%......................

Fri, 10/30/2015 - 00:59 | 6729519 DipshitMiddleCl...
DipshitMiddleClassWhiteKid's picture

Most CEOs are Anglo-WASP zio Stooges

Thu, 10/29/2015 - 20:30 | 6728695 Gambit
Gambit's picture

Ben, Janet, Greenspan, and the 100 CEO can blow me.

Thu, 10/29/2015 - 20:34 | 6728716 The Wampum
The Wampum's picture

When is National Pull Your Money From The Bank Day?

Thu, 10/29/2015 - 20:13 | 6728624 JustObserving
JustObserving's picture

The fucker at YUM brands poisoned millions and has over $230 million in retirement assets.

Behind every great fortune is a great crime

Thu, 10/29/2015 - 20:17 | 6728636 nmewn
nmewn's picture

YUM brands...well..."a service economy" was the economic objective! Of course they never told anyone "who" they would be servicing though, did you want fries with that? ;-)

Thu, 10/29/2015 - 21:30 | 6728894 Fahque Imuhnutjahb
Fahque Imuhnutjahb's picture

 

 

I bet that Yum Brands CEO would be a tasty fucker.  A modest proposal turned on its head.

                       https://youtu.be/1pMVfpKBuyI

I'm not jealous of these blokes, I do alright for myself.  But, I see where this is headed and

I want my kids to have as good of a shot as I.  So, I'm sharpening the ol' carving knife

and getting out the bibs, because these fuckers aren't gonna rein themselves in.

Thu, 10/29/2015 - 20:21 | 6728643 SharkBit
SharkBit's picture

If the world is stupid enough to allow this kind of inequality, then I guess we have to live with these facts.  I say, Power On CEOs until you got it all.  Don't stop me now.  Oh and when you look at the millions of families coming from Syria with nothing but the shirt on their backs, sit back and have a cold one toasting your grreatness.

Thu, 10/29/2015 - 20:20 | 6728648 Raymond_K._Hessel
Raymond_K._Hessel's picture

Thats how we likes it! Capitalism rocks!

Fuck socialist fags!

Usa! Usa!

Thu, 10/29/2015 - 20:30 | 6728694 Money Boo Boo
Money Boo Boo's picture

Yes, exactly!! Corporate theft, graft, cronyism and straight up bribery and Oligarchic control of policy tilted toward only serving the top 0.01%

 

Great fucking CAPITALISM you fucktards rock in DOUCH-SSA!

Fri, 10/30/2015 - 01:04 | 6729530 DipshitMiddleCl...
DipshitMiddleClassWhiteKid's picture

U.S.S.A stopped being capitalist along time ago.

Thu, 10/29/2015 - 20:21 | 6728650 Ignorance is bliss
Ignorance is bliss's picture

They better build fortresses on an island before the zombies take over.

Thu, 10/29/2015 - 20:21 | 6728651 Kaiser Sousa
Kaiser Sousa's picture

like that real estate asshole said in that Million Dollar Shack vid...

"work harder...."

 

 

disclaimer: he said it not me...

Thu, 10/29/2015 - 20:22 | 6728659 Raymond_K._Hessel
Raymond_K._Hessel's picture

Well- they surely earned every dime. Its their lowest tier employees who are fucking up what made this country great the commie fags!

Thu, 10/29/2015 - 20:22 | 6728660 taopraxis
taopraxis's picture

Unequal distribution of wealth is a big problem, but if you are debt free and have even just a dollar in your pocket, you are wealthier than millions of people.

Thu, 10/29/2015 - 20:27 | 6728682 cdskiller
cdskiller's picture

We've got to storm their castles and take their money away from them.

Thu, 10/29/2015 - 20:32 | 6728709 Ralph Spoilsport
Ralph Spoilsport's picture

These CEOs are gonna need that money to buy underground bunkers, private islands, and maybe even that deserted moon base the Nazis built on the dark side of the moon. 

Thu, 10/29/2015 - 20:50 | 6728785 PoasterToaster
PoasterToaster's picture

Are they sure it isn't 300 million Americans? 

It's pretty likely less than 30 million people have anything saved at all. 90% have nothing.

Thu, 10/29/2015 - 20:52 | 6728795 JuliaS
JuliaS's picture

Slave owners are richer than their slaves? Say it ain't so!

Thu, 10/29/2015 - 20:55 | 6728807 atthelake
atthelake's picture

Torches, pitchforks, rope, tar and feathers. Guillotines are, mostly, unavailable in America and we don't have the stomach for rolling heads.

Thu, 10/29/2015 - 21:05 | 6728844 Seasmoke
Seasmoke's picture

This is why in 2008 the people should have had torches outside the White House and Capitol and never let the fuckers Sign that TARP. I would have gladly taken a fall as long as I was looking Hank Paulson and Jamie Dimon in the eyes. What did we think the criminals were going to do when they were given a free pass. A do over. And $700 billion.

Thu, 10/29/2015 - 21:11 | 6728867 FreeShitter
FreeShitter's picture

Keeping up with the Lardassians aired perfectly on time (Oct 2007).....the sheeple never even stood a chance to retaliate after catching a glimpse of Kim's ass.

Thu, 10/29/2015 - 21:09 | 6728859 I Write Code
I Write Code's picture

As others have said, maybe 50,000,000 have nothing at all, so *my* retirement funds ($1) are greater than their sum.  OK already, this is actually a great post.

So, what to do about it?  Raise the payroll tax limit, for one thing.  Better yet eliminate the payroll tax, merge it with the income tax, it's been a fraud since day one anyway.  But, with these politicians?  Hah.  Probably have to settle for defenestrating these 100 CEOs.  It's not fair, it's not even helpful, but it is political, theatrical.

Thu, 10/29/2015 - 22:39 | 6729152 seek
seek's picture

Let's be realistic, they will say they're going to stick to to the CEOs, write and pass the Fair Utilization of Corporate Key Chief Executive Officer's act, and the actual outcome will be to lower taxes on anyone compensated over $5M a year and sieze bank accounts for anyone with a W-2 that is over $50K.

They're not goint to touch a hair on the head of their future employers and current campaign donors. But they'll sure sell the hell out of the story to get something else to pass.

Thu, 10/29/2015 - 21:30 | 6728935 rogerrabbithole
rogerrabbithole's picture

Yeah, but all those others are just lazy, and the these CEOs just work really, really hard for what they get.

Thu, 10/29/2015 - 21:37 | 6728955 Give up. Realit...
Give up. Reality is not scientific nor even mathematical.'s picture

You mean like the CEOs of the American Red Cross, the American Cancer Society and another dozen leading non-profit corporations?

Thu, 10/29/2015 - 22:19 | 6729107 Ranting Troglodyte
Ranting Troglodyte's picture

It's been a long day, and I'm kind of pissed.  So here goes some unrehearsed, shooting from the hip thoughts about the 10 Largest CEO Retirement funds:

 

1. David Novak - YUM: as an owner/operator of a restaurant and catering company back during a sleep deprived decade, I gained an appreciation for the shittiness of the restaurant industry.  The vast majority of your staff works part-time with no benefits for shitty pay....and you have $234 Million just in this one fucking retiriement account!?!  Fuck you you fucking fuck.

2. Leucadia National - Well, as I readily admit, I am a troglodyte.  I don't know what the fuck you do.  Perhaps you earned it fairly and squarely through decades of hard work and accumen...though National makes me think you are a bank.  If that's the case, then fuck you.

3. Honeywell - Don't you make electronic shit?  If so, it's got to be done overseas by now employing some indigineous folk working in conditions that probably don't resemble Google's break room.  Have there been stock buybacks as well at the expense of capex and people?  If any of that is true, then fuck you.

4. Progressive - I read enough right wing blogs to know that your founder, or chairman, or someone high up the food chain is a real prog...probably where you got the name, eh?  And those commercials suck. You need to "leak" a sex tape of that broad if you want me to not change the channel the next time one comes on the idiot box.

5. McKesson - Aren't you a hospital, or make medical equipment, or do something that requires you to lobby for more shit like Obamacare?  If so, fuck you.

6. CVSHealth - Didn't you recently ban cigarettes?  Maybe that was Walgreen's...either way, I know you want me to get a flu shot and put the condoms behind a locked glass cage,  So fuck you.

7. Centene - Man, I'm really stumped on this one.  Mr. Neidorff, I won't even bash you on your name...be it because of your heritage or its funiness.  That being said, I'm keeping the streak going, so fuck you.

8. Comcast -C'mon, enough said.  I had to wait in line once in my life to return my cable box to the store in Warren, Michigan.  Fuck you.

9. Prudential Financial - I KNOW you're a bank, or brokerage, or investment house or something that is inherently evil. Don't you have that rock for your logo?  If so, I like that.  Still, super fuck you to you.

10. Chubb - Hehe...chubb...but I'm pretty sure you're big pharma, so I must hate you....and, of course, fuck you.

 

Enjoy your evenings one and all.

Fri, 10/30/2015 - 00:32 | 6729465 FreedomGuy
FreedomGuy's picture

I think there is therapeutic value to a post like this. I also think it is useful for them to know that most people Left or Right think they are greedy assholes even though we differ on what to do about it...or not.

I will assert that these guys are actually not worth their premium pay. I submit that you could eliminate/can every one of them and there are at least 20 people who will do their job roughly the same within the same company and at half the pay. I submit there are a hundred or thousand closer to the street level of the company that would do even better but will never get a shot or do the ladder thing.

Fri, 10/30/2015 - 01:09 | 6729543 DipshitMiddleCl...
DipshitMiddleClassWhiteKid's picture

Chubb is an old insurance company.

Thu, 10/29/2015 - 23:01 | 6729223 Government need...
Government needs you to pay taxes's picture

Crony capitalism, which involves the active circumvention of average Joe shareholders interest in favor of economic 'PACs', enables the extraction of monopoly rents in the form of compensation/retirement for those @ the top of the political hierarchy.  I would not argue against innovators and business leaders getting rich on the merits of their innovation.  However, CEO comp is set by Board members who are in turn picked by PAC representatives (big pension funds/hedge funds and yes, the CEOs/founders).  That's like asking the fox to guard the chicken coop.  Look @ who gets filthy rich just by their job title:  hedge fund CIOs/CEOs, big corporate C-level execs, and Board members, b/c they are either C-level execs OR they have powerful political contacts.  If a Board member were to object to a dirrty-big 'package', they would be cutting their own throat vis-a-vis getting future lucrative Board gigs.

Fri, 10/30/2015 - 00:47 | 6729488 FreedomGuy
FreedomGuy's picture

Good point, GN. See my earlier post.

Here is an interesting point on the other side. Take recent successes like Zuckerberg, Gates, Jobs or even going back to the founders like Ford, Packard or anyone remember Presidential candidate Ross Perot? How many of them did the corporate ladder, mulitple MBA, template management thing? None. They were all just good at what they did and had a passion for the actual product.

I believe all companies go through three stages:

1. Founders Stage. This is where the entrepreneurs, inventors and visionaries start. It does not matter if it is a better cup of coffee or an automobile. They all have a passion and some actual expertise in what they do. This is the best time to work for these companies and you can do well helping them up the steps of success.

2. The Professionals Stage. These are the people who replace the founders. They have the MBA's and latest pop-management books. They are no-nonsense business guys. The problem is that while they are good organizational guys and working their way up to the top, are expert at self-promotion and know a good consultant when they see one, they actually have either little expertise, market savvy or even like the products they sell. I remember Pfizer's last CEO was an actual trial lawyer that came from McDonald's. Seriously? Talk about no fucking clue. Couldn't they at least find a PhD scientist or someone from sales who at least worked with the medical community? A board voted the asshole in.

Anyway, these guys start the slow inevitable decline. There may be ups and downs kind of like a stock market sinking over time but the trend is ever downwards. They pay themselves the highest salaries of all time on the way down. The leave just before the final phase. Consistent layoffs and financial shenanigans are the signs of the downward spiral. If you boil their solutions down it comes down to two things, 1. Do better marketing. 2. Everyone needs to work more hours which is demonstrated with more spreadsheets. They never improve the product or service until someone else does and then they are playing catch-up forevermore.

3. Salvage Stage. Generally a CFO or some sort of finance guy takes over. Finance guys never like or even understand their products and don't care too. Their basic theory is "We could save a lot of money if we fired everyone." They are there to shrink expenses under the ever decreasing revenue stream. They improve nothing. At the end they sell off parts of the company or often merge it out of existence with another weak competitor. Occasionally, they actually shutter the company. They do the eye bleeding layoffs and all real talent has left taking at least their desk staplers with them.

Fri, 10/30/2015 - 01:16 | 6729560 DipshitMiddleCl...
DipshitMiddleClassWhiteKid's picture

ive worked for a few publicly traded companies

 

it seems like all of them these days are run by the finance guys and its cut, cut, cut!!

 

i work in sales (not a sales guy though..just a number cruncher) and can say the shit is hitting the fan out there. revenues are declining big time as are margins.

Fri, 10/30/2015 - 00:56 | 6729508 Dre4dwolf
Dre4dwolf's picture

I hope yellowstone goes lol

Shits getting boring and pointless.

World needs some lava spice.

Fri, 10/30/2015 - 02:26 | 6729664 YouThePeople
YouThePeople's picture

Not for long..."And it's Gone...The Money Is all Gone" Think South Park. These weak kneed little cocksuckers think they are just going to ride off into the sunset or "walk away". Like my favorite Gomer Pyle use to say "Surprise Surprise".

Fri, 10/30/2015 - 06:04 | 6729832 Clashfan
Clashfan's picture

It's a shame we can't get the title spelled right or at least edited. I'd have liked to have shared this.

Fri, 10/30/2015 - 06:45 | 6729878 JailBanksters
JailBanksters's picture

And I'll bet 3/4 of them are Jews

Fri, 10/30/2015 - 08:09 | 6730007 Wow72
Wow72's picture

Cant imagine why velocity is so low when all the money is in the hands of so few? Sustainable? I would say Big Problem.  Let me guess..... as they rake money out of the markets velocity goes down?

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